Class Action Suit Against Daimler AG Started in USA over Diesel Emissions

2014 Mercedes-Benz E250 BlueTEC 1 photo
Photo: Mercedes-Benz
A group of Daimler shareholders is taking the German company to court because of claims it made about its diesel engines and their compliance with policies and standards.
The class is consistent with all people or entities that acquired Daimler securities during February 22, 2012, and April 21, 2016. All those interested in participating in this suit, and who are already eligible, can contact Pomerantz Law by June 28, 2016.

This firm was founded over 80 years ago and specializes in corporate, securities, and antitrust class litigation. Its founder, the late Abraham L. Pomerantz, is known as the “dean of the class action bar.”

On behalf of class members, the Pomerantz Firm recovered numerous multimillion-dollar damages. So Daimler is facing professionals on this matter.

As the law firm explains, the complaint they are filing refers to “materially false and misleading statements regarding the Company’s (Daimler) business, operational, and compliance policies.”

Specifically, the complaint targets “false and misleading statements about Daimler’s compliance with emissions standard and Daimler’s purported eco-friendly BlueTEC diesel engines.”

The investors in Daimler shares and securities are unsatisfied with the fact that the company initially denied claims regarding potentially higher-than-regulated emissions from their diesel vehicles sold in the USA. As it turns out, the change in statements made by Daimler led to a decrease in stock market value for the company, and this decline made its stock owners lose money.

Normally, it is not a company’s fault for losing stock market value, but the class action claims violations of the 1934 federal securities laws. Specifically, we are talking about the norms under the Securities Exchange Act of that year, known as the “Exchange Act.” All parties in this class action want Daimler to pay damages for its changing statements.

Pomerantz is not the first company to sue Daimler on the emissions front, as Hagens Berman already filed a complaint in February. At the time, Daimler was accused of letting its diesel-engined vehicles generate more nitrogen oxide while operating at low temperatures. The automaker explained it as an entirely legal decision for the long-term protection of the engine.
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About the author: Sebastian Toma
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Sebastian's love for cars began at a young age. Little did he know that a career would emerge from this passion (and that it would not, sadly, involve being a professional racecar driver). In over fourteen years, he got behind the wheel of several hundred vehicles and in the offices of the most important car publications in his homeland.
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